Investment opportunities and risks of the Trump 2.0 era
Pursue portfolio growth but stay alert
A new era is approaching with the return of Donald Trump to the White House. We are mildly optimistic about the outlook for the economy, anticipating moderate growth in Europe and the US in 2025. However, Trump’s policy plans pose specific risks. Our recommendation: seize opportunities in equities, while maintaining a cushion of high-quality bonds.
Update Investment Strategy: Uncertainty reduces risk appetite
Financial markets were extremely volatile in April. First, US tariffs announcement pushed markets lower. When US President Donald Trump backpedalled, equity markets recovered with force and now above ‘Liberation Day’ levels. Although we do not expect a recession, we do expect that the ongoing uncertainty will cause volatility to remain elevated. Therefore, we are using the rebound in financial markets to take some risk off the table.
All topics summarized in one video
- The Big Picture
- Opportunities
- Challenges
- Disruptors
Investment Strategy
“The question is, which Trump we will see in the coming years – the hardliner from the campaign or the dealmaker seeking compromises.”
Erik Joly- Chief Investment Officer